USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.44% against the CAD to close at 0.9760.
In the US, durable goods orders contracted by 0.9% (M-o-M) in February from 3.6% rise in January. Additionally, the orders for durable goods excluding transportation fell 0.6% (M-o-M) in February, compared to a 3.0% drop in January.
In the Asian session at 4:00GMT, the pair is trading at 0.9760, flat from the New York session close.
The first area of short term resistance is observed at 0.9813, followed by 0.9865 and 0.9962. The first area of support is at 0.9716, with the subsequent supports at 0.9671 and 0.9574.
The currency pair is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
